Industry Gap: Deploying Tools for Climate Risk Management

Reinsurance News recently spoke to Joss Matthewman, Senior Director, Product Management & Strategy, RMS, about what he believes the re/insurance industry needs to do to try and combat the effects of climate change.

He highlighted how this topic is particularly important, because, as physical risks change as the climate changes, the industry needs to be making sure that the coverage gap does not grow as the economic exposure increases.

‘I think the role there for both reinsurers and insurers is how can they plan better? What we are currently seeing is a real opportunity for reinsurers in particular to start looking at the near term views, project how the overall risk may change, and to plan for this,’ he said.